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Swiss Firms to Let Traders Short Bitcoin With New Futures Products
Swiss bank Vontobel and Leonteq Securities announced that they will start trading Switzerland’s first two mini futures to short bitcoin on Friday.
Updated Sep 13, 2021, 7:10 a.m. Published Nov 17, 2017, 5:30 a.m.
Swiss asset management firm Vontobel will launch a new futures product designed to let customers bet against the price of bitcoin.
To be launched on SIX Exchange this Friday, the offering will enable investors to reap gains even if the bitcoin price plunges. According to Reuters, the company will release two mini futures, a type of derivatives instrument that represents a fraction of the value of standard futures.
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According to Eric Blattmann, head of public distribution of financial products at Vontobel, the news comes at a time when traditional traders are simply looking for more options when it comes to trading cryptocurrencies.
He said in statements:
"We have seen big demand for our long tracker certificate from investors interested in playing the upside potential of bitcoin and now they have also the possibility to hedge their position or go short."
Along with Vontobel, Swiss investment solutions provider Leonteq Securities AG also announced the launch of a separate product that has a two-month maturity, Bloomberg reported today.
Likewise, in his statements, Manuel Durr, head of public solutions at Leonteq noted that clients "appreciate" the choice between a long or a short investment in bitcoin.
Indeed, the move comes amid an uptick in interest in cryptocurrency products among institutional investors. U.S. derivatives marketplace operator CME Group, for example, announced recently it would launch a bitcoin futures product, setting off speculation other firms may follow suit.
Already, New York-based startup LedgerX is offering live cryptocurrency futures trading, with $1 million traded in its first week.
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Fidelity's Jurrien Timmer: Expect lame 2026 as four-year bitcoin cycle appears intact
The director of global macro at the asset management giant remains a secular bull on bitcoin, but isn't optimistic about the next year.
Yang perlu diketahui:
- A number of notable market analysts of late have dismissed the idea of bitcoin's four-year cycle and the nearly certain bear market that might imply.
- Fidelity's Jurrien Timmer, however, says the action so far this time around lines up about perfectly with past four-year cycles and the current bearish action should last deep into 2026.
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